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Illustration: Eniola Odetunde/Axios

Warby Parker, a New York-based eyeglasses designer and retailer, raised $245 million in new funding at a $3 billion valuation, Axios has learned from a source familiar with the company's finances.

Between the lines: Warby had been widely viewed as a 2020 IPO candidate, but seems to have opted to remain private longer due to both the pandemic and some struggles for other direct-to-consumer personal product brands.

  • Investors in the round included D1 Capital Partners, Durable Capital Partners, T. Rowe Price.
  • The company previously raised a total of $290 million, including a $75 million infusion in early 2018 at a $1.75 billion valuation.

Go deeper

Ina Fried, author of Login
Nov 17, 2020 - Economy & Business

Airbnb's IPO bets on a post-pandemic future

Illustration: Sarah Grillo/Axios

In filing for a $1 billion stock offering Monday, Airbnb is betting investors will look past the company's coronavirus-induced struggles and see a brighter future.

Between the lines: Airbnb faces pressure to go public despite the pandemic so it can deliver liquidity both to investors and to early employees, whose options will eventually expire.

U.S. economy added 379,000 jobs in February

Data: FRED; Chart: Axios Visuals

The economy added 379,000 jobs in February, while the unemployment rate dropped from 6.3% to 6.2%, the Labor Department said on Friday.

Why it matters: The first Biden-era jobs report shows hiring surged as coronavirus cases eased — though a full recovery remains far off. Economists expected the economy to add roughly 182,000 jobs last month, after adding a paltry 49,000 in January.

This story is breaking news. Please check back for updates.

Dion Rabouin, author of Markets
1 hour ago - Economy & Business

Workers are getting a really bad deal

Illustration: Eniola Odetunde/Axios

This week's spate of data highlighted the difficulties Americans who have lost their jobs have had bouncing back from the coronavirus pandemic, and just how much those who have managed to keep their jobs have been working.

What's happening: The Labor Department reported Thursday that the productivity of American workers fell by a revised 4.2% annual rate in the fourth quarter, the largest decline in 39 years.